Cresco Labs Archives

William SumnerDecember 12, 2019

The Illinois-based Cresco Labs (CSE:CL) (OTCQX:CRLBF) is looking to shore up its balance sheet by selling off one of its properties. Today the company announced that it would sell its Lincoln, Illinois cultivation facility to GreenAcreage Real Estate Corp. (GreenAcreage), for $50 million. “This Agreement is representative of the comprehensive approach to capital planning that […]

Debra BorchardtDecember 9, 2019

Cresco Labs (CSE:CL) (OTCQX:CRLBF) has completed its first harvest from its expanded cultivation facility in Lincoln, IL. The state will begin sales of legal adult-use cannabis on January 1 and is projected to be a $2-4 billion dollar market once it has matured and is expected to be one of the largest cannabis markets in […]

Debra BorchardtDecember 3, 2019

Cresco Labs Inc. (CSE:CL) (OTCQX: CRLBF) said that it has entered into an equity distribution agreement with Canaccord Genuity Corp. in which the company may sell up to C$55 million of subordinate voting shares. Cresco Labs said that it will use the money “for general corporate purposes (including funding ongoing operations and/or working capital requirements), […]

Debra BorchardtNovember 27, 2019

The bear market for the cannabis industry is leading to the unwinding of deals that had great promise. Cannabis companies are no longer willing to write big checks with fingers crossed that the market will just continue to boom. Two of these deals were terminated after great fanfare. Cresco Labs Cresco Labs (CSE:CL) (OTCQX:CRLBF) said […]

Debra BorchardtSeptember 27, 2019

Cannabis REIT company Innovative Industrial Properties Inc. (NYSE: IIPR) picked up another cannabis facility this week. Illinois-based Cresco Labs Inc. (CSE: CL) (OTCQX: CRLBF) signed a binding agreement to sell its Joliet and Kankakee, Illinois properties to Innovative Industrial Properties (IIPR) for roughly $46.3 million, which includes funding for additional tenant improvements at the Kankakee property. […]

Debra BorchardtSeptember 16, 2019

Cresco Labs Inc. (CSE: CL) (OTCQX: CRLBF) has announced a plan to acquire Tryke Companies including six prime Reef Dispensary locations in Nevada and Arizona, expanded licensed cultivation and process capacity in Las Vegas and Phoenix and entry into the Utah market. The purchase price is $282.5 million which includes $30 million in real estate assets. The payment is a mix of Cresco Labs shares […]

Debra BorchardtAugust 21, 2019

Cresco Labs Inc. (CSE: CL) (OTCQX: CRLBF) reported that its second-quarter revenue rose 253% to $29.9 million over last year in its unaudited financial results for the second quarter ending June 30, 2019. The revenue rose 42% sequentially. The company attributed the increase in revenue to new market expansion and continued growth in existing markets […]

William SumnerAugust 8, 2019

It’s time for your Daily Hit of cannabis financial news for August 7, 2019. On the Site Cronos Group Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) reported financial results in Canadian dollars for the second quarter and first-half ending June 30, 2019, with net revenue climbing 202% to $10.2 million over last year’s $3.4 million. […]

Debra BorchardtMay 17, 2019

Origin House, formerly known as CannaRoyalty (CSE: OH) (OTCQX: ORHOF) announced preliminary unaudited revenue of approximately C$11 million for the first quarter ending March 31, 2019. No profit or loss numbers were revealed. The company also noted that April was off to a good start with approximately C$6.5 million in unaudited revenue. The wholly-owned distribution […]

Debra BorchardtApril 29, 2019

Canada-based Origin House (once known as CannaRoyalty Corp.) (CSE: OH) (OTCQX: ORHOF) reported its fourth quarter and year-end results ending in December 2018 in Canadian dollars. The fourth quarter saw revenues of $7.9 million an increase of 638% over last year’s $1.1 million for the same time period. The net loss for the quarter was […]

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Tag: Cresco Labs

Cresco Labs Looks to Shore Up Its Balance Sheet By Selling Lincoln Property for $50 Million

Cresco Labs Getting Ready For January Sales In Illinois

Cresco Labs Plans New Offering With Canaccord As Illinois Sales Near

Two Busted Deals From Cresco Labs, Sol Global

Innovative Industrial Properties Picks Up Cresco Labs Facility

Cresco Labs Buys Tryke For $282 Million, Picks Up Reef Dispensaries

Cresco Labs Revenue Rises 253% In Second Quarter

The Daily Hit: August 8, 2019

Origin House Announces Unaudited Revenues of $11 Million

Origin House Reports 638% Jump In Revenue For Fourth Quarter

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Lykos Therapeutics Secures $100M in Series A Funding, Rebrands from MAPS PBC

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